The US markets remained closed yesterday (Thanksgiving day). However, Pfizer (NYSE: PFE) dominated the headlines following the European Medicines Agency’s (EMA) authorization of its COVID-19 drug for administration on children aged between five and 11 years. The stock had closed almost flat at $50.89 on Wednesday.
The authorization paves the way for jabs to be given to millions of primary school children against the backdrop of a fresh wave of infections spreading throughout the continent. Notably, for the first time, the EMA has authorized a COVID-19 vaccine for use in kids.
In particular, the regulatory body has stated that it recommended the use of Comirnaty (Pfizer’s COVID-19 vaccine) be expanded to cover usage in children aged between five and eleven years.
Interestingly, Austria did not wait for the approval of the COVID-19 vaccine for use in children. The government authorities in Vienna have already started vaccinating kids aged between five and eleven years. Currently, Europe remains the worst-affected region, and the World Health Organization has cautioned that the continent might witness more than 2 million fatalities by the spring if no immediate action is made to combat the outbreak.
The EMA authorization for the Pfizer’s (in partnership with German company BioNTech) COVID-19 vaccine needs to be approved by the European Commission, the executive division of the EU. After that, the health workers can start administering the jabs.
A few days before, Jens Spahn, German health minister, has stated that vaccine deliveries for young children are scheduled to start on December 20. It can be remembered that the US FDA (Food and Drug Administration) issued the formal clearance for Pfizer’s children vaccines (10 micrograms) on October 30. Likewise, last week, Canada approved the Comirnaty vaccine for use on kids.
In September, Dr. Bill Gruber, senior vice president of Pfizer, revealed that the company conducted a trial (on kids aged 5-11 years) with a dosage that is one-third of the level administered to adults (30 micrograms). Still, the kids developed antibody levels that were comparable to those of teens and young adults who received the 30microgram doses.
Notably, Pfizer’s COVID-19 vaccine trials in children were not significant enough to identify any unusual adverse effects from the second dosage, such as the chest inflammation that has been observed in primarily male adolescents and young adults.
United States authorities have pointed out that COVID-19 is responsible for more mortality in children between the ages of 5 and 11 than other infections, including chickenpox (before vaccination).
Earlier in November, the European Medicines Agency had stated it had begun investigating the efficacy of Moderna Inc.’s COVID-19 vaccine in children aged 6 to 11. The final outcome is expected in two months.
Despite the fact that most children only develop moderate symptoms from COVID-19, certain public health experts feel that immunizing children should really be a top priority in order to prevent the virus from spreading continuously as it could theoretically give rise to the creation of fresh dangerous variants.
There is no clarity on the precise impact of kids on the transmission or direction of the pandemic. While some experts insist that children played a crucial role in the transmission of dangerous variants such as delta and alpha, early research indicated otherwise. However, WHO (the World Health Organization) has stated that vaccinating kids is beneficial.
The authorization of Pfizer’s COVID-19 vaccine for use in children is expected to keep the stock slightly bullish in the days ahead.
The historical price chart indicates that the stock is ascending after testing the base of the ascending triangle. The stock is also trading above its 50-day moving average, while the MACD indicator is rising in the positive region. Therefore, we are anticipating the stock to remain in an uptrend in the short term.
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